Home Insurance in Utah
The investment in homeowners insurance in Utah is one of the most valuable purchases you can make because it provides protection to your biggest investment. Yet, finding cheap homeowners insurance tends to be important, too. Once you know the Utah homeowners requirements, you can find a policy that matches both of your goals of affordability and quality coverage. Here’s how to do that.
Home Insurance Companies in Utah
To get started, look for the best home insurance companies in Utah based on their financial rating and availability in your area. Then, compare the homeowners insurance agencies in Utah based on the coverage options they provide to you to protect your home, liability risks, and possessions. Top rated homeowners insurance companies in Utah work closely with you to apply available discounts and savings options. And, to make comparisons easy, use independent home insurance agents in Utah to look at policies from several insurance companies.
How to Get the Best Rates for Home Insurance in Utah
To get started, you need to know which companies are available. To find the best rates, enter your zip code on this page.
<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>
How Much Does Homeowners Insurance Cost in Utah?
To compare policies, you should know what the average cost is in your area. Nationally, the average HO-3 policy costs $1,173. However, the average annual premium in Utah is far more affordable at $673. The cheapest home insurance in Utah is less than this. Home insurance quotes in Utah can give you more insight about your specific home.
<twitter>Nationally, the average HO-3 policy costs $1,173. However, the average annual premium in Utah is far more affordable at $673.</twitter>
List of Homeowners Insurance Companies in Utah
The best way to know what you will pay is to get quotes from multiple agencies. To do that, enter your zip code on this page.
How Homeowners Insurance Is Calculated in Utah
Homeowners insurance costs are based on risk. When a home faces more risk, costs go up. In areas where risks are low, costs are less. Here’s a look at a few key factors that could impact your home.
<qa>1;Crime;Crime is a key factor in most areas. Specifically, the amount of property crime in your area can influence the cost of coverage. In the U.S. the national crime rate is 24 incidents per 1,000 residents. By comparison, the crime rate in Utah is 27.80 per 1,000 residents. This could increase costs in some areas.</qa>
<qa>2;Weather/Climate;Climate plays a role, too. The most impressive climate factors in Utah include extreme heat, drought, and wildfires. Fires can contribute to increases in property risk. However, in Utah weather is rather favorable from an insurance point-of-view.</qa>
<qa>3;Home Values;Home values matter, too. Home values that are higher require more coverage, increasing their costs. In Utah, the median home value as of March of 2019 is $338,700. That’s significantly higher than the national average. This can raise costs in some areas.</qa>
Home Insurance Requirements in Utah
There are a variety of questions most people have about home insurance requirements in Utah. Here are the answers to some of those.
Is Homeowners Insurance Required in Utah?
The state does not make you maintain a home insurance policy. However, lenders can require it. If you have a loan on your home, your mortgage contract likely includes a requirement to maintain comprehensive coverage.
What Does Home Insurance Cover?
Utah home insurance coverage is like most other areas. Most policies cover the structure of the home – which includes protection from fires, storm damage, and vandalism – as well as liability insurance. Liability coverage protects you if another person claims to suffer a loss at your home, such as an injury.
Homeowners Insurance for New Properties in Utah
Some areas of Utah are seeing a significant amount of development. That’s increasing home insurance costs. A new home is likely to have a higher value, which increases your coverage premium.
Homeowners Insurance for Old Properties in Utah
Older properties in Utah still need insurance, even if you do not have a home loan. This policy protects the value of your property for years to come, minimizing your losses from fires, theft, and many other risks.
Renters Insurance in Utah
The state and most cities do not require residents who rent their home to have renter’s insurance. Some landlords may require it, though.
Renter’s insurance is very affordable in this area, usually under $25 per month. It covers your possessions and liability risks. This is not covered under any policy your landlord has for the structure. That’s why it is so important to have your own coverage. Without it, a fire could lead to a devastating loss for you.
<zipcode>Compare Renters Insurance in Utah</zipcode>
Compare Home Insurance in Utah by City
Every property owner needs to consider the individual factors that impact their home to raise costs. Yet, you can get some insight into the cheapest home insurance in Utah by looking at quotes from the biggest cities. When you compare home insurance quotes, the city size and home value plays a big role in what you pay. Here’s a few examples.
<qa>1;Home Insurance Quotes in Salt Lake City, Utah;The largest city in the state, Salt Lake City is a vibrant, modern community. With 200,544 people living here, it’s a growing area. The median home value in the city is $400,800. Suburbs may be even higher.</qa>
<qa>2;Home Insurance Quotes in West Valley City, Utah;West Valley City, which is home to 136,170 people, is also a thriving community. It’s seen recent growth as well. Property is a bit more affordable here. The median home value in West Valley City is $299,800.</qa>
<qa>3;Home Insurance Quotes in Provo, Utah;Provo is in the heart of the state. About 117,335 people live here. The median home value in Provo is $307,300, and home values have risen about 17 percent over the last 12 months. That can increase home insurance costs over time.</qa>
<qa>4;Home Insurance Quotes in West Jordan, Utah;West Jordan is a bit smaller but is still a traditional residential area with about 113,905 people living there. Median home values are growing in West Jordan, too. They are currently $354,300 and have grown nearly 10 percent in the last year.</qa>
<qa>5;Home Insurance Quotes in Orem, Utah;Though smaller, Orem is still a great place to buy a home with a higher quality of life. It has about 97,839 people living there. Median home values in Orem are around $326,100. That’s a 15 percent increase in just a year.</qa>
Bonus: Most Expensive Homes in Utah
You think your insurance costs are high. Consider what they may be for the most expensive homes in the state:
- The home at 8272 E. Left Hand Fork Hobble Creek in Springville is valued at $29.95 million. It spans nearly 50,000 square feet.
- The home called Cascade in Park City is valued at $25 million – with nearly 8,000 square feet.
- Another home, at 1943 Wolf Creek Ranch Road in Kamas is valued at $24.99 million.